Stocks extend losses as rollover adjustments weigh
Business
December 23, 2020
Stocks extended losses on Tuesday tracking world markets ahead of a tougher rollover week, where amount to be settled is the highest ever, i.e., Rs18 billion, dealers said.
Pakistan Stock Exchange’s (PSX) KSE-100 shares index lost 0.98 percent or 426.82 points to close at 42,906.94 points, while volumes increased to 561.855 million shares, compared to 516.465 million shares in the previous session.
KSE-30 shares index followed suit with a low of 0.92 percent or 166.1 points to end at 17,857.10 points.
Salman Ahmad, head of institutional sales at Aba Ali Habib securities, said as expected the rollover week quashed the share values as the amount to be adjusted was the highest ever.